Advice Pool - Finance

One of the best ways to speed up the repayment of your debts is to focus your attention on paying off the loans that carry the h

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ighest rate of interest first. Get rid of the debts that cost you most to service.

Here’s what to do. Compare the interest rate

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

on each of your loans and repay those with the highest rate first. The only way to do this is to look at the rate of APR on eac

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

h of your debts. That’s the only way to decide which debt is more expensive. If you’re unsure, check your loan agreement or ask

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

the lender.

Then, it’s just a case of throwing everything you can at the debt with the highest APR (provided you can still make

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

the minimum payments on your other debts).

Then move on to the next most expensive debt, and wipe it out. Then focus on the ne

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

xt most expensive, and the next, and the next, until you’re entirely debt free!

This means that you should normally aim to pay

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

them off in the following order.

Store cards, catalogue accounts and other hire purchase agreements

Overdra

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

fts

Credit cards

Personal loans/Car loan

Mortgages and other secured borrowing

Get

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

The Best Deal

Get the best loan deals that are available to minimise the interest that you pay.

Fact: It’s much ea

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

sier to repay a loan with an interest rate of 5.9% APR than one set at 29.9% APR.

The less interest that you have to pay, the m

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ore you’ll have left to repay the amount originally borrowed.

Transfer each of your debts to as low a rate of interest as you c

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

an find. Transfer debts on your credit cards to a lower rate card. You might be able to find a card that gives zero percent inte

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

rest on all balance transfers for 6 months. Likewise, why continue to pay 30% APR on your storecard debts, when you could transf

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

er the balance to a credit card that charges a much lower rate.

But if you decide to do that, I’ve got two warnings for you. Wh

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

en you transfer debts from one of your plastic cards, destroy the old card immediately!

Avoid the urge to keep them, or

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

before you know it both cards will be up to their limit, and you’ll be looking for an even lower rate just to keep up with the r

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

epayments.

And second, don’t waste these interest free periods. Just because you don’t have to pay interest for a while, don’t

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ease up on your efforts. Keep paying as much as you can to reduce the size of the debt.

Interest free periods are a golden oppo

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

rtunity to substantially reduce your debts. Don’t look on them as a ‘payment holiday’, or as an excuse to increase your spending

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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How BPM improves, CRM can be understood with the fact that it is difficult for a company to achieve the target of customer profitability in the absence of a business performance management or BPM system. Different CRM software provides different facilities.

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